Visiting Bangkok, Thailand for a few days can be an exciting experience. Moving to a new country on a permanent basis to start your own company can be downright exhilarating. If you are thinking about starting your own business there, what steps do you need to take to make your dream a reality?
Get an overview of the Country
The first step is to get a general idea of the culture of Bangkok that you are moving to. You want to know how people make purchasing decisions, who controls the purse strings and what people are most interested in buying. You also need to know the median income of people living in the country and whether or not the government is friendly to business. Knowing this information ahead of time allows you to craft a marketing plan ahead of time that gets results.
Find Out What Has to Happen Before You Can Enter the Country
You will have a hard time running your company if you are not allowed to visit the factories or sit in on interviews. To ensure that you are able to run your company in Thailand, you need to know the immigration laws as well as the steps a foreigner needs to take to legally own the business.
Can You Bring Your Workers With You?
Immigration laws in the country where you start your company will determine whether or not you can bring workers or investors in your company with you. Immigration lawyers will be able to give you more information as to who is allowed to enter the country for work purposes and what has to happen for a foreign investor to enter the country to help you start your company.
Make Sure You Hire Local Workers
While it may not be the law that you have to hire local workers when you start your company, it is always a good idea to do so as a sign of good faith. Hiring locals to work as middle managers is also a good idea because they will relate to the workers and understand what motivates them to work hard. If you are planning on hiring local workers to help build a factory or work on an assembly line, ask if there are any tax breaks that your business could benefit from.
Look for a Secured Storage Unit
Bangkok’s self-storage unit will allow you to make use of the space you have, while also giving peace of mind regarding safety. The use of storage lockers and lockboxes have continued to rise in the city of Bangkok and more are currently being built. There are many reputable companies to choose from when it comes to self-storage rental. Small business owners and individuals can rent these secure places for a few short months or for consecutive years. Most of them are equipped with trollies or elevators. This idea has continued to grow and has cut down on the high cost of business and living spaces.
Starting a company is a complicated endeavour regardless of where you are starting it. However, starting a company in Thailand presents challenges that you may need help to overcome.